Southwest Securities EVP leaves company, CEO resigned in August
David Frase, executive vice president of warehouse lending at Southwest Securities FSB, recently left the company a source at the company confirmed. Frase was originally hired by Southwest in 2006 from Texas Capital Bank NA. Southwest has been providing warehouse lending services "for some time," the source at the firm said. American Banker reported today that cutbacks are being made at Southwest because of writedowns, but that they are unrelated to the warehouse business. Frase's leave follows the resignation of Donald Hultgren, president and CEO of SWS Group, Inc., Southwest Securities parent company, in August. Hultgren left the firm to pursue other interests, according to the company.? The source at Southwest could not comment on whether the two decisions to leave were related. Write to Christine Ricciardi.